The banks have been calling me on a regular basis asking for minimum payment. Though I have told them that I will seek out an instalment plan once I've secured a job.
Always threatening legal action if I fail to make a payment.

One of the financial institution has been calling me close to 15 calls a day for the last 1 month. Whereby everytime there's this incoming call I will pick up but it goes to a recording asking me to pay up immediately or face blacklist and legal action.

And there was this one day where I received a call, the officer saying that he is calling from Jabatan Insolvensi Malaysia, Putrajaya and that I need to pay RM2,000 within 5 days. Failing to do so would mean I have to go to Magistrates Court in Putrajaya within the next 2 weeks.
I was very shaken by it. Sleepless nights and anxiety as I'm in a helpless situation.

A week later another officer from the same institution called me. I told her about that particular call that I received and said that I really couldn't prepare the requested RM2,000.
She said there is no such demand for me to pay so much and also that there is no need for the Jabatan Insolvensi to call me as I'm not indebted RM30,000 and above to these banks...

I'm just very concerned that legal action will be taken at this point.

If you have no money, how to force you to pay?
You are not going to jail. Just tahan your telinga..

0 found this helpful

Helpful

answered on Oct 24, 2017 at 02:17by vkpc

You cannot become a bankrupt as you don't owe a bank more than RM 50k.
This is the threshold of Bankruptcy law since this year.

Ask all your friends and relatives to call you by your English name.
If anybody call up asking for your IC name, just say no such person and hang up.
Save the number in your address book. Problem solved.
Don't be a victim of Debt Collector lies and cons.

0 found this helpful

Helpful

answered on Oct 24, 2017 at 02:18by vkpc

And there was this one day where I received a call, the officer saying that he is calling from Jabatan Insolvensi Malaysia, Putrajaya and that I need to pay RM2,000 within 5 days. Failing to do so would mean I have to go to Magistrates Court in Putrajaya within the next 2 weeks.
I was very shaken by it.

This above is an example of a Debt Collector lie and con job.
Wise up.

Means that by saying 'will take legal action against you' those are just threats by the debt collectors..
Coz they always tell me that they are calling from the relevant banks.

So if for example they were to send me Lawyer's Letter/Demand Letter, should I disregard it?

As my concern is having to attend a Court hearing on my debts. Preferably not..
Kindly advice.

As I mentioned in my initial post, once I secure a job, hopefully soon, I will ask the banks for installment payment for all 3 accounts.

0 found this helpful

Helpful

answered on Oct 25, 2017 at 00:31by vkpc

Means that by saying 'will take legal action against you' those are just threats by the debt collectors?
Yes, just empty threats.
So if for example they were to send me Lawyer's Letter/Demand Letter, should I disregard it?
You can post the letter here so kind people can help you reply it.

As my concern is having to attend a Court hearing on my debts. Preferably not..
Why afraid of the Courts? Courts are there to protect you and give you justice.

Ok will do, if and when I receive the Letter of Demand I'll post it here for further advice.

Well its the common perception 'dah malu dah kalau nak naik Court.'
Also that the Court will not 'side' me since I'm at fault for breaching the Agreement by not making the monthly required payments.*shy*